Market Outlook: Saudi spat

This week the Financial Times reported that the Saudi Arabian central bank and state pension funds have instructed their overseas asset managers to sell all Canadian equities, bonds and cash holdings, ‘no matter the cost’. Yesterday Canadian PM Justin Trudeau noted that the kingdom had made some progress on human rights but that Canada would continue pressing on civil liberties. Also yesterday Saudi foreign minister al-Jubeir added that Ottawa knew what it needed to do to ‘fix its big mistake’, Reuters reports